2012 CAPITAL UPDATE · 2012-12-11 · Demolished the Bellevue Demolished the Annex Finished Tenn. Ave. Boat attendantbuilding and closed out the grant Energy Grants 6th St. FH, City

2012 CAPITAL UPDATESUPER STORM SANDY

and2013 –2017 CAPITAL PLAN

12/6/2012 CITY OF OCEAN CITY

The Capital Financing Process

• The City Council adopts Bond Ordinances to establish the capital appropriations according to the capital plan

• The City borrows BAN's (Bond Anticipation Notes) in order to pay for the improvements based on the schedules of completion

• The City makes interest only payments on BAN's, which are temporary debt and can be borrowed for no longer than terms of 1 year

CITY OF OCEAN CITY December 6, 2012

The Capital Financing Process

• Based on the City's debt service model, several years of BAN's are rolled into bond sales and become "permanently funded“

• When Bonds are sold the City then commences on a schedule to pay back principal and interest over a number of years

• This cycle then repeats itself based upon the next several years of capital plans and projects to be completed

• This capital plan is being formulated with a focus on four bond sales scheduled to occur between 2012 and 2020


2012 Budget

DEBT SERVICEBond Principal $5,980,000Bond Interest 1,942,940Note Interest (BAN’s) 152,125Baker Note Interest 180,000Green Acres 65,155

TOTAL $8,320,220

CAPITAL IMPROVEMENT FUND5% down payment on $10 mil $500,000CIF Ordinance (pay as you go) 320,000

TOTAL $820,000


Total Debt Service AnnuallyYear Debt Service % Increase

• 2006 $6,429,092 3.6%• 2007 $6,840,244 6.4%• 2008 $7,125,000 4.2%• 2009 $7,561,315 6.1%• 2010 $7,812,967 3.3%• 2011 $7,975,087 2.1%• 2012 $8,313,065 4.2%

AVERAGE = 4.27%

• 2013 $9,350,000 12% Increase (Estimated)


Temporary/Unfunded Debt as of Today

Debt as of 12/6/12 $31,005,825Less Reimbursements:FEMA: Dunes & Geotubes ‐1,150,000Library‐ Remaining Debt ‐1,950,000

Subtotal = $27,905,8252013‐2019 Capital Plans7 years @ $10 mil per 70,000,000

Total = $97,905,825


Future Financing of Debt 2012‐2020

Total from previous slide $97,905,825

2012 Bond Sale 9,900,0002016 Bond Sale 27,000,0002019 Bond Sale 45,000,0002020 Bond Sale 24,000,000

$105,900,000


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2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

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EXISTING & FUTURE DEBT SERVICE REQUIREMENTS

Principal Interest Baker & Other BANS 2012 Issue 2016 Issue 2019 Issue 2020 Issue

EXISTING BOND PRINCIPAL

EXISTING INTEREST2012 ISSUE

2016 ISSUE

2019 ISSUE

2020 ISSUE

2012 CAPITAL UPDATE


BEACHFILL

This would occur in the Federal Project Area. (North End near Seaspray Road to 36th Street).

Contract has been awardedScheduled to start after the 1st of the year

CITY OF OCEAN CITY12/6/2012

Beachfront Outfall Upgrades as part of Beachfill = $671,880City Funding = $167,970, State Funding = $503,910

Phase 2:Simpson Road: North

Street to Battersea 1st to St. Charles Alley and4th To Park Place Alley

Atlantic Ave. to the Beach

5th To Brighton Alley11th and Pleasure Ave. Alley

Phase 3:Bayland Drive (South terminus to 28th Street) Valmar Court & Summer CourtWesley Avenue (29th Street to 27th Street)29th Street (Central Avenue to Wesley Avenue)Stormwater management facilities at the street ends

29th, 28th , and 27thStreets

PAVING Contracts for Phase 2, 3 and 4 are complete:


PAVING Contract for Phase 4 is complete

• Phase 4:• Asbury Avenue:

– 45th to 42nd

• 43rd Street: – (the) Bay to Central Asbury Avenue:

– 45th to 42nd

• 43rd Street: – (the) Bay to Central


44th Street: (the) Bay to Central

45th Street – NorthSide: West to Central

Asbury/Central alley: 47th to 46th Streets

Bulkhead Replacements

15th Street4th Street6th Street

Bid Authorization scheduled for December 13th meetingPennlyn Place from Ocean Avenue to the Beach7th Street from West Avenue to the Beach(except intersections)8th Street from West Avenue to Atlantic Avenue(except intersections)West Avenue 9th Street 8th Street

UPCOMING PAVING


MP HVAC Replacement underway

City Hall A/C replacements and 6th FH boiler replacements, bid authorization scheduled for December 13th

PW Underground Storage Tank Remediation andPW Fueling Renovations Bid due December 18th


Completed Projects:MP Restroom Renovations Demolished the BellevueDemolished the AnnexFinished Tenn. Ave. Boat attendant building and closed out the grantEnergy Grants6th St. FH, City Hall, and 29th Street: Water aerators, light sensors, and A/C condessor replacements for energy cost savingsSewer Lateral Replacements46th, 35th, and 18th Sts.

PUBLIC BUILDINGS

RECREATION FACILITIES

Portable Rest Room completed at 11th St.

Fence at @ 6th & Baycompleted

Concept and Design of Carey Field and adjacent areas completed


Downtown Park completed at 9th and Asbury

Safety Netting completed

New sprinkler systems completed at variousgarden plots

5th and Bay Sports Lighting replaced

PARKING AND INTERMODAL TRANSPORTATION

Bike Racks PurchasedDowntown Holiday Decorations PurchasedNew Traffic Signal Installed at 5th and West

DEPARTMENTAL EQUIPMENT

Aerator/Seeder and a Turf Tractor was purchasedMP Chair Replacements were purchased911 Enhancement completed


LARGE EQUIPMENT AND TRUCKS

Wheel Loaderwas purchased

Storm Truck Replacement is out to bid


Rehabilitation completed on the:

Load n PackBeach Tractor

POST SANDY

DAMAGE AND REPAIRS


WAVERLY BEACH

Sand Loss due to Sandy 850,000 cubic yards = $10 million*


* STILL WAITING FOR ACOE CONFIRMATION OF THESE FIGURES

SAND LOSS *

LOCATION CYDS COST

Inlet-Terminal Groin to Bridge 5,000 $ 60,000

Terminal Groin to 14th Street 271,111 $3,253,333

14th Street to 34th Street 248,889 $2,986,667

34th Street South 323,556 $3,882,667



Additional Outfall Repairs required at 7 Locations = $190,000

Additional Outfall Repairs Cost Confirmed by ACOE


Dune and Sand Fence Repairs = $10M*



DUNE REPAIRS

LOCATION COST

Inlet-Terminal Groin to Bridge $ 110,000

Terminal Groin to 14th Street $ 1,450,000

14th Street to 34th Street $ 3,100,000

34th Street South $ 3,300,000



BAY FRONT REPAIRS

Bayside

2nd and Bay Avenue


BAYFRONT REPAIRS

• $ 1,000

• $ 11,400• $120,000

• $478,000

• $ 60,000


Cardiff Road Bulkhead Cap Repair

3rd Street Bulkhead Repair (temporary repair completed)Permanent Repair Required

2nd and Bay MarinaDock Damage Electric and Water Service

Bayside Dock Damage Concrete Damage Floating Docks

BOARDWALK‐‐BOARDWALK RAMPS‐‐STEPS

REPAIRS ESTIMATED AT $ 202,000


BOARDWALK & ACCESSORY STRUCTURES

LOCATION COSTSTEPS: 5th , 7th, 8th, 10th, 54th Sts.:

in‐house $ 28,000RAMPS: St. James, 2nd, 3rd, 6th,

55th Sts.: in‐house $ 110,000CROSS OVERS with RAMP:

E. Atlantic And 58th St. $ 17,000Boardwalk deck and 18 cribbing

locations: in‐house $ 25,000Railing: various locations $ 22,000


RECREATIONAL FACILITIES


52nd Street Golf Course

RECREATIONAL FACILITIES

LOCATION COST34th Street Playground Surface, Tennis Surface, and Restroom Deck $ 40,000

Golf Course Netting and Fencing (Post & Rail) $ 10,000

8TH St. Playground Surface $ 25,000

52nd St. Hockey Rink Assembly$ 10,000


PUBLIC BUILDINGS

• Bayside – Water Damage toPool House

– Garage

• Estimated Building Damage Estimated at $15,000 or less

• Estimated BuildingContent Loss = $ 1,200


AIRPORT—GOLF COURSE PRO SHOP

• Runway/Taxiway Lighting & Signage

• AWOS (weather station)• Store novelties • Security Cameras • Security Gate Control Equip.

TOTAL = $ 170,000

• Pro Shop Repairs:– Still awaiting quote– Estimated at $10,000or less

• Building Contents– $3,000


PUBLIC BUILDINGS

• MUSIC PIER DAMAGE

Window , Floor Repair Still awaiting cost estimateEquipment Replacement =

$32,00012/6/2012 CITY OF OCEAN CITY

PUBLIC BUILDINGS

• CITY HALL DAMAGEBuilding Still awaiting cost estimateContents = $ 250,000Document Salvage = $ 67,000


PUBLIC BUILDINGS

• TRANSPORTATION CENTER DAMAGE– Historic Structure Cost

being developed for• Floor replacement• Wainscot Rehabilitation

• Restroom Rehabilitation

• Office Rehabilitation

– Building Contents =• $16,000

Flood Level


PUBLIC BUILDINGS

• VEHICLE MAINTENANCE DAMAGE:– Repair of Displaced Concrete Floor = $ 200,000– Building Contents = $ 45,000

Water Level


PUBLIC BUILDINGS—BEACH PATROL


Total Beach Patrol Damages = $26,500



1st Street BeachPatrol

Stanley Metal Security Doors‐Front & Side Entrance‐‐two $1,500Storage Sheds ( 10' Wide X 14' Deep X 10' High) Double doors ( 3' 1/4" each) two $5,800

12th Street Beach Patrol

Storage Sheds ( 12' Wide X 12' Deep X 12' High) Double doors ( 3' doors) two $6,000Storage Sheds ( 11' Wide X 14' Deep X 8' High) Double doors ( 3' doors)‐‐ shared with OCPD $2,850

Siding Damage $1,000




Stanley Metal Security Door‐Front Entrance $ 750Storage Shed ( 6' Wide X 14' Deep X 6' High) Single door ( 3' door) $2,500


Stanley Metal Security Doors‐Front & Side Entrance—two $1,500Storage Sheds ( 10' Wide X 12' Deep X 10' High) Double doors ( 3' doors)‐ two $5,600Roof Damage‐ Leaking in the Headquarters $1,500

PUBLIC BUILDINGS Community Center Damage


Pool Pump Room Repairs = $7,500

(2) Lobby Areas Remediated = $3,000

Foundation Fill Replacement still under review

PUBLIC BUILDINGS29th Firehouse Damage


Currently investigating cost benefit of repair vs. replacementBuilding Contents = $ 61,000

PUBLIC BUILDINGS

• 46th Fire House, Post Office, and Beach Fee Office Damage


Building Repairs = $25,000 estimated

Building Contents = $ 8,700

• Traffic Signal Repairs by CMC: – 6th St. = $ 47,000 (5)– 8th St. = $ 43,000 (3)– 10th St. = $ 36,000 (4)– 14th St. = $ 25,782 (3)

Total = $151,782


• Communication Repairs– WWAN = $ 5,000– Alarms = $52,900

INTERMODAL AND COMMUNICATIONS

DAMAGES TO DATE


$18,150,000

$673,000

$202,000 $85,000

$170,000 $275,500 $200,000

$151,782

$57,900

Beach

Bay Front

Boardwalk

Playgrounds/Golf Course

Airport

Buildings (Incomplete)

Parking

Traffic Signals

Communications

2013—2016 Capital Plan

CATEGORY PROJECTS THAT INTERFACE WITH STORM RELATED REPAIRS AND/OR REPLACEMENTS ARE NOTED

WITH AN ASTERISK


BEACH AND BAY


2013 2014 2015 2016 2017

ADA Beach Paths* $ 15,000 $ 15,000 $ 15,000 $ 15,000 $ 15,000

Dune Fence* $ 15,000 $ 15,000 $ 15,000 $ 15,000

Beach Fill $750,000 $ 1,750,000

Contingency $100,000 $150,000 $ 100,000

Dredging $250,000 $ 500,000

TOTALS = $1.015M $ 130K $ 1.78M $180K $630K

PAVING DRAINAGE AND BULKHEADS

2013‐2014 Planned Funding Level = $5M



2013‐2014Simpson/Haven alley 7th Street 6th StreetSimpson/Haven alley 5th Street 4th StreetSimpson/Haven alley 4th Street 3rd StreetCentral/Wesley alley 3rd Street 2nd Street2nd Street West Avenue Asbury Avenue2nd Street Asbury Avenue Atlantic Avenue3rd Street West Avenue Central Avenue3rd Street Wesley Avenue Atlantic AvenueHaven Avenue 3rd Street 2nd StreetHaven Avenue 4th Street 3rd StreetSimpson/Haven alley 3rd Street 2nd StreetMoore Avenue 8th Street 7th StreetPleasure Avenue 7th Street 6th Street


2013‐2014Bayonne Place Bay Avenue Pleasure AvenueHaven Avenue 17th Street 16th Street16th Street Bay West AvenueSunset Place Pleasure Avenue Bay AvenuePleasure Avenue 16th Street 14th StreetBay/Simpson alley 17th Street 16th Street14th Street Bay Bay Avenue15th Street Bay Bay AvenueBayview/14th alley Bay Avenue Prospect AvenueProspect Avenue 15th Street 14th Street


2013‐2014Asbury Avenue 42nd Street 39th StreetDrainage Pipes 41st, 40th, and 39th

40th Street West Avenue Asbury Avenue42nd Street West Avenue Central Avenue

NJAW and SJG Associated ImprovementsPelham Place ‐ SJG Atlantic Avenue Wayne AvenueSimpson Avenue ‐ NJAW 12th Street 11th Street


2013‐2014 Bulkheads

7th Street ‐ Bulkhead

16th Street – Bulkhead

Battersea Road ‐ Bulkhead

Tonga Harbor ‐ Bulkhead

PAVING, DRAINAGE AND BULKHEADS


2014 2015 2016 2017

Paving

Drainage

Bulkheads

YEARLY TOTALS $5,000,000 $ 4,000,000 $ 5,000,000 $ 5,000,000

BOARDWALK


2013 2014 2015 2016 2017

Isolated Replacements $ 75,000 $ 75,000 $ 75,000 $ 75,000 $ 75,000

Reconstruction Averages $1,700,000 per year 2014 through 2017

No new funding in 2013;

2012 planned funding has not been expended

PUBLIC BUILDINGS


2013 2014 2015 2016 2017

4th St. LLS (interior) $200,000 $200,000

New PS & Court Bldg @6th St. Design

$550,000 $ 550,000

Construction $2,000,000 $2,000,000 $2,000,000

$2M/Yr. for 2 additional Years 2018 and 2019

PUBLIC BUILDINGS


2013 2014 2015 2016 2017

MP Fire Suppression, Downspouts,

& Painting

$ 300,000

City HallGround Floor* $ 220,000

HVACImprovement $ 75,000

PUBLIC BUILDINGS


2013 2014 2015 2016 2017

6th Street FH $ 75,000

29th St. FH * $510,000

PUBLIC WORKS

Fleet Maint.* $200,000

Storage Facilities $100,000 $150,000

General $100,000 $100,000 $100,000 $100,000 $100,000

TOTALS = $ 2M $1.25M $2.75M $2.1M $2.1M

PUBLIC FACILITIES


2013 2014 2015 2016 2017

Fenton CareyFld. Track &playing Fld.

$ 750,000

General Property

Improvements: Irrigation, Fencing,

Landscaping

$ 100,000 $ 100,000 $ 100,000 $ 100,000 $ 100,000

RECREATION FACILITIES


2013 2014 2015 2016 2017

15th Street Playground$ 100,000

52nd Street Playground*

Safety Surface and Play Equip.

$150,000

Fountains and Foot Baths

(Bdwk) $ 25,000 $ 25,000 $ 25,000

TOTALS =$ 225,000 $1,000,000 $ 125,000 $ 100,000 $ 125,000

PARKING & INTERMODAL


2013 2014 2015 2016 2017

Traffic Signal Installation:

18th & Central$ 150,000

5th St. & the Beach ParkingLot Upgrade

$ 220,000

Moorlyn—8th

StreetConnector

$ 300,000

PARKING & INTERMODAL


2013 2014 2015 2016 2017

Meter UpgradesAnd

Replacements *$ 40,000 $ 25,000 $ 25,000 $ 25,000

DowntownImprovements

Multi‐year$ 50,000 $ 50,000

General $ 50,000 $ 50,000 $ 50,000

TOTALS $560,000 $275,000 $125,000 $ 75,000

Existing funds are available in 2013 for:Bike/Ped Improvements ($150k)

Downtown Improvements ($160K)

DEPARTMENTAL EQUIPMENT


2013 2014 2015 2016 2017

Recreational $ 20,000 $ 30,000

Buildings & Grounds $ 20,000 $ 10,000

Music Pier$ 50,000

Public Works$ 20,000 $ 20,000 $ 45,000 $ 20,000

CommunicationsAll Depts. RadioReplacements

$ 25,000 $ 50,000 $ 125,000 $ 75,000

TOTALS =$ 95,000 $ 70,000 $125,000 $160,000 $ 60,000

LARGE EQUIPMENT, TRUCKS & REHAB


2013 2014 2015 2016 2017

Rehabilitation$ 25,000 $ 25,000 $ 50,000

PumperReplacement

$ 675,000

33K DT w/SS Dump Body, Snow plow & Salt Sprdr

$ 160,000 $ 175,000

4 X 4 Mini Dumpw/SS DB, Snow

Plow & saltSpreader

$ 170,000



2013 2014 2015 2016 2017

66KHook LiftTruck with Snowplow &

Salt Spreader $220,000

Mini Trash Packer $ 80,000

Hot Patcher $ 60,000 Utility Body Pick

Ups (2)$ 50,000

4WD Utility Body Pick Up with snow

plow & Salt Spreader Insert

$ 35,000 $ 35,000



2013 2014 2015 2016 2017

4 X 4 Stake Body Crew Cab Beach

truck$ 35,000

Load N Pack $ 185,000

Beach Tractor $ 80,000

4WD Extended Cab Pickup$ 22,000

4WD Pickup $ 25,000



2013 2014 2015 2016 2017

Sweeper $ 185,000

Surf Rake $ 75,000

Mini 4x4 Ext Cab Pick Up $ 25,000

Mini Pickup $ 22,000

Mini Utility Vans (2)$ 41,000

TOTALS =$ 1,018,000 $497,000 $395,000 $460,000 $135,000


$3,735,000

$24,000,000

$7,175,000

$10,205,000

$1,575,000

$1,035,000 $510,000

$2,505,000

5 YR. TOTALSBEACH & BAY

PAVING

BOARDWALK

BUILDINGS

RECREATION

INTERMODAL

DEPT. EQUIPMENT

LARGE EQUIPMENT

5 YR. TOTALS

CATEGORY • BEACH & BAY $ 3,735,000 • PAVING $ 24,000,000 • BOARDWALK $ 7,175,000 • BUILDINGS $ 10,205,000 • RECREATION $ 1,575,000 • INTERMODAL $ 1,035,000 • DEPT. EQUIPMENT $ 510,000 • LARGE EQUIPMENT $ 2,505,000


Documents

2012 CAPITAL UPDATE · 2012-12-11 · Demolished the Bellevue Demolished the Annex Finished Tenn. Ave. Boat attendantbuilding and closed out the grant Energy Grants 6th St. FH, City